8.16 Early Morning Silk Road

Currently, the large pie is in a low-level bottoming phase, and technical signals indicate some rebound potential. Although the moving average system shows a bearish arrangement, indicating an overall bearish trend, the bullish engulfing signal in the candlestick pattern and the RSI oversold condition form a technical support for the rebound.

In addition, the price is close to a strong support level of 120800, further enhancing the judgment that the downside space is limited. However, the extreme contraction of trading volume also constrains the strength of the rebound, indicating insufficient market momentum. Therefore, adopting a low-buy strategy to capture short-term rebound opportunities can reopen long positions.

Large Pie: Buy in the range of 116000-116500, target 118000, if broken, look at 120000, each should strictly maintain their defenses. $BTC $ETH $XRP